Here are some highlights from last week's earnings coverage from BloggingStocks:

• Applied Materials Inc. (NASDAQ: AMAT) posted better-than-expected Q3 results, sending shares higher.
• AutoDesk Inc. (NASDAQ: ADSK) reported better-than-expected Q2 earnings, sending shares higher.
• Blockbuster Inc. (NYSE: BBI) had another disappointing quarter as same-store sales declined.
• CIT Group Inc. (NYSE: CIT) delayed its Q3 report due to ongoing debt restructuring and a possible bankruptcy.
• Dr Pepper Snapple Group Inc. (NYSE: DPS) Q2 earnings came in well ahead of Wall Street expectations.

AutoDesk (NASDAQ: ADSK - option chain) shares are rising today after the company reported Q2 earnings of 0.05 per share and $10.5M. Excluding one-time items, this EPS was 0.24, above estimates of 0.19. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on ADSK.

ADSK opened this morning at $25.21. So far today the stock has hit a low of $25.08 and a high of $25.61. As of 11:10, ADSK is trading at $25.30, up 1.10 (4.6%). The chart for ADSK looks neutral and S&P gives ADSK a neutral 3 STARS (out of 5) hold ranking.

Autodesk, Inc. (NASDAQ: ADSK) is scheduled to release its first-quarter earnings results after the closing bell today. Analysts, on average, are expecting the company to report a profit of 8 cents per share, down sharply from ADSK's profit of 50 cents per share in the year-ago period. Sales for the period are expected to arrive at $419 million.

Thomson First Call reports that the software concern has exceeded Wall Street's consensus earnings estimates in each of the previous four reporting periods, but pessimism is nevertheless running high ahead of tonight's announcement. On Wednesday, traders on the International Securities Exchange (ISE) bought to open 3,607 puts on ADSK, compared to just 84 calls. In other words, bearish bets were nearly 43 times more popular than their bullish counterparts.

The day's skeptically skewed option volume was simply the extension of a recent trend; ADSK boasts a hefty 10-day ISE put/call volume ratio of 9.56, indicating that traders have consistently preferred puts over calls during the two weeks preceding the earnings release. This ratio ranks in the 99th percentile, revealing that pessimistic options on the equity have rarely been in greater demand.

The market was down almost all day, although it did make a few runs at going positive. The Q4 GDP data was even far worse than the revision estimates. While there is very little good news on the headlines, it does seem as though buyers are starting to nibble on positions. The end of day drop today looks like it was an index rebalance issue for month-end, although there could always be the fear of holding into the weekend. In that case, today almost felt like a win. Here are today's unofficial closing bell levels:

Dow 7,068.66 -113.42 (-1.58%)
S&P 500 735.50 -17.33 (-2.30%)
Nasdaq 1,377.84 -13.63 (-0.98%)

Top Analyst Downgrades
Top Analyst Upgrades

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Alcoa Inc. (NYSE: AA) kicked off the new season with a larger-than-expected loss due to the economic slump.
• Allscripts-Misys Healthcare Solutions (NASDAQ: MDRX) reported better-than-expected Q2 earnings.
• Apollo Group Inc. (NASDAQ: APOL) share price soared after its strong Q1 earnings and guidance.
• Apple Inc. (NASDAQ: AAPL) earnings prospects without CEO Steve Jobs led to an analyst's downgrade.
• Autodesk Inc. (NASDAQ: ADSK) lowered its guidance as business slows at an unprcedented rate.
• Bank of America Corp. (NYSE: BAC) reported terrible Q4 results and receivbed additional TARP money.
• Bunge Ltd. (NYSE: BG) lowered its 2008 earnings estimate due to soft soybean commodity markets.
• Citigroup Inc. (NYSE: C) posted a much bigger-than-expected loss and said it would split in two.
• Coventry Health Care Inc. (NYSE: CVH) offered full-year guidance that was less than analysts expectations.
• CSX Corp. (NYSE: CSX) forecast Q4 earnings would come in below analysts' expectations.
• CVS Caremark Corp. (NYSE: CVS) increased its quarterly dividend despite the recent lowered guidance.
• Deutsche Bank (NYSE: DB) reported a net loss for Q4 and the full year, dragging down the sector.
• Genentech Inc. (NASDAQ: DNA) revenue and earnings surged but were lower than analysts estimated.
• Intel Corp. (NASDAQ: INTC) Q4 results were in line with low expectations as the gross margin declined.
• JPMorgan Chase & Co. (NYSE: JPM) reported a huge drop in Q4 earnings but it stayed in the black.
• Lexmark International Inc. (NYSE: LXK) slashed its Q4 outlook and announced job cuts.
• Pentair Inc. (NYSE: PNR) efforts to limit an earnings decline led to a buy recommendation.
• Precision Cast Corp. (NYSE: PCP) earnings prospects following the recent rally led to an analyst's downgrade.

Yahoo! They found someone for the gig. Former Autodesk (NASDAQ: ADSK) CEO Carol Bartz has reportedly accepted the top job at Yahoo! (NASDAQ: YHOO), according to the Wall Street Journal (subscription required.)

Industry watchers have considered Bartz a leading contender for the CEO spot left vacated by co-founder Jerry Yang for a while now. But filling the job proved contentious... and difficult. Seems nobody wanted the task of trying to turn around the troubled company's fortunes. While it enjoys rich content and traffic, this early internet player has also been beset by internal and external troubles for years. Much of its executive and technical talent has left for greener pastures.

Bartz, 60, is a well-regarded tech executive. She presided over Autodesk from 1992 through 2006, during which the company saw robust growth. She served as Chairman, president and CEO of the company, and remains on as its executive chairman.

Bartz has had stints at many tech firms over the course of her career. She was an executive at Sun Microsystems Inc., (NASDAQ: JAVA), Digital Equipment Corp., and 3M (NYSE: MMM). She also sits on a number of boards, including the board of Cisco Systems Inc. (NASDAQ: CSCO), with predecessor Jerry Yang.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• AnnTaylor Stores Corp. (NYSE: ANN) posted dismal Q3 results as same-store sales sank.
• Autodesk Inc. (NASDAQ: ADSK) declined to release an outlook for next year due to the economic turmoil.
• BASF AG (OTC: BASFY) profit warning resulted in analysts' upgrades and downgrades both.
• Dell Inc. (NASDAQ: DELL) handily beat Q3 expectations due in part to share buybacks.
• GameStop Corp. (NYSE: GME) missed Q3 earnings expectations and same-store sales declined.
• Hewlett-Packard Co. (NYSE: HPQ) forecast Q4 results above estimates on cost cutting and global reach.
• Home Depot Inc. (NYSE: HD) reported better-than-expected Q3 results though sales had declined.
• LDK Solar Co. Ltd. (NYSE: LDK) Q3 earnings more than doubled and revenued surged 70%.
• Lowe's Cos. Inc. (NYSE: LOW) posted better-than-expected Q3 results though same-store sales slipped.
• McDonald's Corp. (NYSE: MCD) 2009 earnings prospects resulted in an analyst's upgrade.
• Nokia Corp. (NYSE: NOK) earnings warning resulted in upgrades from a few analysts.
• PetSmart Inc. (NASDAQ: PETM) topped expectations and forecast full-year profits higher than estimates.
• Suntech Power Holdings Co. (NYSE: STP) fell short of earnings expectations and lowered its guidance.
• Trina Solar Ltd. (NYSE: TSL) Q3 earnings quadrupled and revenue more than tripled on increased demand.

MOST NOTEWORTHY: Golar LNG, Yingli Green Energy and Bill Barrett were today's noteworthy downgrades:

• Jefferies downgraded shares of Golar LNG (NASDAQ: GLNG) to Hold from Buy on valuation, as they see limited upside over the next 12 months.
  
• Banc of America downgraded shares of Yingli Green Energy (NYSE: YGE) to Neutral from Buy on difficult fundamentals, as they believe solar industry gross margins will continue to contract due to silicon competition and decelerating demand in Spain and Germany.
  
• SunTrust lowered Bill Barrett Corporation (NYSE: BBG) to Neutral from Buy based on valuation and lack of near-term exploration catalysts.

OTHER DOWNGRADES:

• Autodesk (NASDAQ: ADSK) was lowered to Accumulate from Buy at ThinkEquity.
  
• Goldman removed Oneok (NYSE: OKE) from its Conviction Buy List.
  
• Merrill Lynch downgraded Boardwalk Pipeline Partners (NYSE: BWP) to Sell from Buy.

Autodesk (NASDAQ: ADSK) is recently down $4.95 to $34.15 in pre-open trading.

ADSK lowered its Q1 outlook.

Robert W. Baird says: "Domestic business slows, international strong, would be buyers on weakness."

ADSK overall option implied volatility of 40 is near its 26-week average of 38 according to Track Data, suggesting non-directional price movement.

Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

MOST NOTEWORTHY: International Paper, Autodesk, Oracle and Vistaprint were today's noteworthy upgrades:

• Citigroup upgraded shares of International Paper (NYSE: IP) to Buy from Hold on valuation and their belief that recent declines in the dollar will support pulp, paper and paperboard prices going forward.
  
• Autodesk (NASDAQ: ADSK) was upgraded to Buy from Hold at Jefferies after their proprietary survey yielded positive data points going into Q3. They also raised their estimates due to currency. Broadpoint raised its rating on Oracle to Buy from Neutral on valuation following the recent underperformance.
  
• Oracle (NASDAQ: ORCL) was also upgraded to Sector Outperformer from Sector Performer at CIBC, as they believe the company's growing product portfolio, improving margins and successful acquisition strategy should continue to drive double-digit EPS gains.
  
• William Blair added Vistaprint (NASDAQ: VPRT) to its Current Better Values List. The firm believes the company has a large market opportunity and expects its business momentum to continue. They view the recent weakness as a buying opportunity.

OTHER UPGRADES:

• Merrill Lynch upgraded Alcatel-Lucent (NYSE: ALU) to Neutral from Sell.
  
• UBS upgraded Eagle Bulk Shipping (NASDAQ: EGLE) to Buy from Neutral.
  
• Affiliated Managers Group (NYSE: AMG) was upgraded to Outperform from Market Perform at Wachovia.
  
• Banc of America upgraded Andersons (NASDAQ: ANDE) to Buy from Neutral.

MOST NOTEWORTHY: The software sector, Ericsson, Paccar, Eni SpA and Valueclick were today's noteworthy downgrades:

• Bear Stearns downgraded the software sector to Underweight from Market Weight, citing valuations and increased risk to 2008 IT budgets.
  
• Ericsson (NASDAQ: ERIC) was downgraded to Equal Weight from Overweight at Lehman and to Neutral from Overweight at JP Morgan following the company's Q3 profit warning.
  
• Paccar (NASDAQ: PCAR) was downgraded to Underperform from Market Perform at Wachovia. The firm believes Street estimates are too high due to weaker-than-expected North American unit production.
  
• ABN Amro downgraded shares of Eni SpA (NYSE: E) to Sell from Hold as they expect the company to invest significantly more in its upstream activities than guidance suggests due to cost pressures.
  
• Oppenheimer downgraded ValueClick (NASDAQ: VCLK) to Neutral from Buy following the Q3 pre-announcement and guidance.

OTHER DOWNGRADES:

• Merrill downgraded Equity Lifestyle Properties (NYSE: ELS) to Neutral from Buy.
  
• Autodesk (NASDAQ: ADSK) was downgraded to Neutral from Buy at UBS.
  
• JP Morgan downgraded ACA Capital Holdings (NYSE: ACA) To Neutral from Overweight.
  
• Citigroup downgraded Vimpel Communications (NYSE: VIP) to Sell from Hold.
  
• Yahoo! (NASDAQ: YHOO) was downgraded to Hold from Buy at Gabelli.

MOST NOTEWORTHY: Getty Images (GYI), Jackson Hewitt (JTX), Electronic Data (EDS), RC2 Corp (RCRC) and Chipotle Mexican Grill (CMG) were today's noteworthy downgrades:

• Deutsche Bank cut Getty Images (NYSE: GYI) to Sell from Hold citing deterioration in its core business. Gabelli downgraded Getty Images to Hold from Buy after the company lowered guidance to reflect the changing industry dynamics.

• Goldman cut Jackson Hewitt (NYSE: JTX) to Sell from Neutral citing near-term risks that include the renegotiation of the HSBC (HBC)/RAL contract, the DoJ/IRS investigation, and decreasing performance in tax.

• Jefferies downgraded Electronic Data Systems (NYSE: EDS) to Hold from Buy to reflect the company's slowing cash flow improvement.

• Wedbush downgraded RC2 Corp (NASDAQ: RCRC) to Buy from Strong Buy on the lower sales forecast for 2007. Soleil cut shares to Hold from Gradually Accumulate to reflect uncertainty over the Thomas recall and increased competition.

• Chipotle Mexican Grill (NYSE: CMG) was downgraded to Market Perform from Outperform based on valuation...

OTHER DOWNGRADES:

• Lazard downgraded Kyphon (NASDAQ: KYPH) to Hold from Buy.

• SMH Capital cut Aventine Renewable Energy (NYSE: AVR) to Sell from Neutral.

• Credit Suisse downgraded AutoDesk (NASDAQ: ADSK) to Neutral from Buy.

• UBS cut SABMiller (OTC SBMRY) to Reduce from Neutral.

• CIBC downgraded Marvell Tech (NASDAQ: MRVL) to Sector Performer from Outperformer.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Sanofi-Aventis (SNY), Dow Jones & Co (DJ) and AutoDesk, Inc (ADSK) were today's more notable downgrades:

• Sanofi-Aventis (NYSE: SNY) was downloaded from a multitude of companies after a U.S. FDA panel rejected the company's Zimulti weight-loss pill because the medicine was linked to suicides:
  
• To Hold from Buy at Societe Generale
• To Neutral from Outperform at BNP Paribas
• To Neutral from Overweight at JP Morgan and HSBC
• To Neutral from Buy at Merrill Lynch
  
• To Sell from Hold at ABN Amro

• Elsewhere, UBS cut Dow Jones & Co Inc (NYSE: DJ) to Reduce from Neutral as they believe there is no guarantee the controlling Bancroft family will accept News Corp's (NYSE: NWS) offer; they think another bid is unlikely given NWS's aggressive bid and cautions that shares could drop back to mid $30 range if the bid is not accepted.

• Autodesk Inc (NASDAQ: ADSK) was downgraded to Neutral from Buy at Goldman on valuation.

OTHER DOWNGRADES:

• HSBC cut Ivanhoe Mines, Ltd (NYSE: IVN) to Neutral from Outperform.

• Lehman downgraded shares of ITT Educational Services, Inc (NYSE: ESI) to Equal Weight from Overweight.

• VASCO Data Security International, Inc (NASDAQ: VDSI) was downgraded to Hold from Buy at Jefferies.

• Bear Stearns downgraded SLM Corp (NYSE: SLM) to Peer Perform from Outperform.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Tenet Healthcare Corp (THC), Furniture Brands International, Inc (FBN), Sepracor Inc (SEPR), ValueClick, Inc (VCLK) and Altria Group, Inc (MO) were today's noteworthy downgrades:

• Bear Stearns downgraded shares of Tenet Healthcare (NYSE: THC) to Underperform from Peer Peform citing difficulties in California and weak margins.

• Stifel downgraded Furniture Brands (NYSE: FBN) to Sell from Hold citing concerns regarding continued weakness in the housing industry.

• Summer Street downgraded Sepracor (NASDAQ: SEPR) to Sell from Neutral after the HCPCS website indicated Xopenex and Albuterol will have the same code as of July 1.The firm believes this eliminates the optimistic scenarios that Sepracor can garner a minimal-or-no-reimbursement cut.

• RBC downgraded shares of ValueClick (NASDAQ: VCLK) to Underperform from Sector Perform as the firm believes the FTC letter poses a risk to earnings and that the company is unlikely to be acquired.

• Matrix downgraded Altria Group (NYSE: MO) to Buy from Strong Buy to reflect decreasing cigarette sales and increasing valuation...

OTHER DOWNGRADES:

• American Technology cut Autodesk, Inc (NASDAQ: ADSK) to Neutral from Buy.

• Matrix downgraded Fluor Corp (NYSE: FLR) to Sell from Buy.

• Jackson Hewitt Tax Service (NYSE: JTX) was cut to Market Perform from Outperform at William Blair.

• Baird sent Alliance Data Systems Corp (NYSE: ADS) to Neutral from Outperform.

• Roth Capital downgraded shares of Sonic Solutions (NASDAQ: SNIC) to Hold from Buy.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Delta Air Lines (DAL), Diana Shipping Inc (DSX), Adobe Systems Inc (ADBE), Eagle Materials, Inc (EXP), ACR Group (BRR) and Autodesk, Inc (ADSK) were today's noteworthy initiations:

• Goldman is positive on Delta Air Lines (NYSE: DAL), starting shares with a Buy rating and $25 target based on above average growth, best-in-class unit costs, free cash flow and less labor cost risk.

• Diana Shipping (NYSE: DSX) was started at JP Morgan with an Overweight rating based on valuation and positioning. Lazard started Diana with a Buy rating, expecting demand for dry bulk shipping will outperform supply through 2010.

• Soleil expects Adobe Systems (NASDAQ: ADBE) recently released Creative Suite 3 to be the near-and-medium term growth driver and started shares with a Buy rating.

• JP Morgan started Eagle Materials Inc (NYSE: EXP) with an Underweight rating, expecting a decline in wallboard industry profitability due to increased capacity and lower demand.

• B. Riley started ACR Group (AMEX: BRR) with a Buy rating calling the stock "cheap."

• Soleil believes a catch up on the Autodesk's (NASDAQ: ADSK) SEC filings and a strong Q1 will prove near-term catalysts and started shares off with a Buy rating and $56 target.

OTHER INITIATIONS:

• Merrill Lynch started Super Micro Computer, Inc (NASDAQ: SMCI) and Capital Product Partners LP (NASDAQ: CPLP) with Buy ratings.

• Banc of American started Verigy Ltd (NASDAQ: VRGY) with a Buy rating and $32 target.

• Stephens initiated Kaman Corp (NASDAQ: KAMN) with an Overweight rating and $34 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).